The most common question, Does marketing mean only promotions and advertising?
If your answer to this question is yes, then I think we need to rediscover the meaning of marketing as this is the most assumed misconception that marketing means promotions and advertising only.
Interestingly, Marketing starts as soon as you decide to start a company, even though your product is not ready because marketing means understanding the customer needs, the customer wants, understanding the target segmentation and then putting it all together. Promotions and advertising are a small part of this ongoing process that comes at the later stage. And with the ongoing evolution, marketing has become the “conversations” with the customers.
Most of the startups and companies failed at this point only because they do promotions of the products they make, not what the customer is looking for. Understanding customer needs should be the main motive of marketing. So does that mean we don’t need promotions and advertisements? No, they are very crucial but they should tell the brand story, message and not just the product, that’s what most of the successful companies are doing.
To conclude, marketing is understanding the need of the customer and then shaping the product and company accordingly.